Alliance Resource Stock Forecast

Alliance Resource stock price up 1.15% on Thursday
(Updated on May 02, 2024)

ARLP Signals & Forecast

Mostly positive signals in the chart today. The Alliance Resource stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $21.99 and $20.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 24.29%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, March 15, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Alliance Resource stock

Alliance Resource finds support from accumulated volume at $22.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.560 (2.47%) between high and low. For the last week, the stock has had daily average volatility of 3.97%.

Our recommended stop-loss: $22.21 (-2.90%) (This stock has low daily movements and this gives low risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 42 days ago.)

Trading Expectations (ARLP) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Alliance Resource Partners to open at $22.90, and during the day (based on 14 day Average True Range), to move between $22.36 and $23.38, which gives a possible trading interval of +/-$0.506 (+/-2.21%) up or down from last closing price. If Alliance Resource Partners takes out the full calculated possible swing range there will be an estimated 4.43% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $22.21, some $0.660 (2.89%) from the current price of $22.87, our system finds the risk reward attractive.

Is Alliance Resource Partners stock A Buy?

Alliance Resource holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.053 Strong Buy Candidate Unchanged

Predicted Opening Price for Alliance Resource Partners of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.